EFIG in Forbes Middle East “Egypt’s Top 50 Listed Companies 2024”!
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Forbes Middle East has unveiled its list of Egypt's Top 50 Listed Companies for 2024, recognizing the most prominent and successful enterprises. eFinance Investment Group has earned a place in their list for the 3rd year in a row, highlighting our substantial influence in the financial services sector & reflecting the group's strong and growing presence in the market.Led by Chairman and CEO Ibrahim Sarhan, EFIG has made significant strides in the industry through our flagship subsidiary, eFinance for Digital Operations. This recognition by Forbes Middle East highlights the dynamic and robust nature of Egypt's business landscape, celebrating companies that drive economic growth and innovation & underscores EFIG's pivotal role in advancing Egypt's financial landscape. Forbes Middle East launched its inaugural list of Egypt's Top 50 Listed Companies in 2022, spotlighting the most valuable and profitable companies in the country, and eFinance Investment group has been a part of the list ever since.
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“Khadamat Misr” Opens its Mokattam branch to Enhance Access to Government Services
Egypt’s “Khadamat Misr” (Egypt’s Services Centre) opens its Mokattam branch in Cairo, offering citizens access to over 150 government services in a centralized location. The inauguration ceremony was attended by Egypt’s Ministers of Planning, Economic Development and International Cooperation, Local Development and Justice, along with the Governor of Cairo. “Khadamat Misr” is part of a government initiative designed to improve citizens' experiences with public services through digital transformation. The Mokattam center is the fourth of its kind in Egypt, following centers in Alexandria, Aswan, and South Sinai.H.E Dr. Rania A. Al-Mashat, Egypt’s Minister of Planning, Economic Development and International Cooperation, emphasized that the Mokattam branch is the first in Greater Cairo and aims to implement digital transformation to meet citizens’ needs, enhance financial inclusion, and improve electronic payment methods.The center provides a range of services, including documentation, real estate registration, issuing computerized certificates, renewing national ID cards, individual and family registration, criminal records, traffic services, civil status, passports, public prosecution services, commercial registry services, and social insurance. It also offers electronic payment services and a dedicated space for people with special needs.H.E Dr. Manal Awad, Minister of Local Development, highlighted the Mokattam center as a significant step in administrative reform, ensuring efficient and responsive government services. She noted that the project would expand to more governorates in the coming years.Operated by eFinance, the center aims to add over 200 services across 14 centers nationwide in the future.Since its soft launch, the Mokattam center has processed over 400,000 transactions with an average service delivery time of just seven minutes. Citizens can track services and get updates via the “Khadamat Misr” website and dedicated hotline.
eCards Rebrands to eNovate in Line with Its New Strategy for Development and Innovation
eCards, a subsidiary of eFinance Investment Group, has announced a rebrand, changing its name and logo to "eNovate" instead of "eCards," in line with the company's new strategy of innovation, development, and expansion into more services and activities.The new name signifies a blend of digital and electronic solutions, represented by the letter "E" as a common identity among all companies in the eFinance Investment Group, and "Novate," derived from the word "innovate."eNovate (formerly eCards) explained that the new name was chosen to build on its successes in supporting the digital transformation of many national projects for ministries, agencies, and banks over the past 15 years. The company has undergone several structural changes and added many innovative digital services to align with its new strategy, which aims to adapt to the changing dynamics of the market, prompting the need to develop both the name and the brand.Ibrahim Sarhan, Chairman of eNovate (formerly eCards), stated that the continuous and rapid developments in technology require all players in the sector to continue evolving, keeping up with new trends, and even contributing to change and innovation to meet market demands and expectations. He added that the eFinance Group is committed to continued development and investing heavily to strengthen the group's infrastructure and various subsidiaries, ensuring they are better positioned to keep up with developments and contribute strongly to innovation within Egypt’s and international financial technology markets, while expanding existing activities and adding new ones.On her part, Nashwa Kamel, CEO of eNovate (formerly eCards), noted that the company will undergo further development and expansion to support innovation and management, contributing to the creation of a competitive edge in the market by offering a range of unique and diverse services and products for managing and operating smart digital payment solutions. This includes updating and fully automating the card center and expanding into several new solutions and services.It is worth noting that eCards, a subsidiary of eFinance Investment Group, was established in 2020 to be the main arm for issuing and managing government and bank-issued cards, both banking and non-banking. The company has worked on digitizing payments for many large national projects and has issued more than 50 million cards over the years, including Takaful and Karama cards, the Falah Meeza card, pension cards, and many smart solutions for the transportation sector, among other projects with both public and private sectors in various fields.eCards has expanded its services to include integrated solutions for digital payment systems and provided innovative digital solutions for financial and non-financial institutions. Its aim is to enable organizations to adopt modern payment technologies and promote financial inclusion through digital services that facilitate safe and efficient electronic payment operations. Know More About eNovate
eFinance Launches the “Made in Egypt” Digital Industrial Platform in Cooperation with the Ministry of Industry
The platform was established by eFinance and the Ministry of Foreign Trade and Industry, marking a noteworthy advancement in the Egyptian government's efforts towards digital transformation. Services provided by this platform include the distribution of industrial land via an investment map, the notification-based granting of operating licenses, and annual follow-up services.The “Made in Egypt” platform offers electronic payment services via bank branches and bank cards. Preparations are being made to introduce the construction permit and industrial registration services as well as additional services pertaining to the Ministry of Industry and its linked businesses.Ibrahim Sarhan, Chairman and CEO of eFinance investment group, conveyed the company's delight in playing a prominent role in the digital transformation of essential government sectors.The Ministry of Foreign Trade and Industry moved quickly and decisively to support digital transformation for investors and the growth of Egypt's industrial sector, and today the company celebrates new accomplishments in creating and running the “Made in Egypt” Digital Industrial platform.He underlined that the digital transformation will be greatly accelerated by the initiatives and suggestions made by Engineer Kamel El-Wazir, the Transportation Minister, the Industry and Trade Minister and the Deputy Prime Minister of Egypt, resulting in a notable improvement in services for industrial investors. Further services will be added to the platform during later stages of its launch, and it is expected to play a crucial role in boosting transparency and quickening the expansion of the industrial sector.For industrial investors, the “Made in Egypt” platform will simplify procedures by allowing electronic transactions rather than in-person visits. The platform aims to serve as the principal means of communication between industrial investors and all pertinent authorities.Furthermore, the site will automatically alert investors to impending license renewals and document expirations, offering all required services, details, and paperwork. Each investor will also have access to a protected account that will hold all of the information and documents they have submitted, along with the status of any service requests they have made via the platform.Additionally, the portal will notify applicants via SMS of the land allocation results for plots that are offered as well as a comprehensive explanation for the assessment standards. The Ministry invites all interested parties to keep an eye on the platform's allocation results and make sure that the processes used are transparent.